Rambus Turns To Profit In Q4

(RTTNews) - The California-based chipmaker, Rambus Inc. (RMBS) turned to profit in the fourth quarter primarily due to higher product revenue.

Rambus reported a net income of $6.10 million or $0.05 per share, compared to a loss of $12.05 million or $0.11 loss per share in the same quarter last year.

The revenue was $91.78 million, up from $61.91 million in the prior year. The revenue was chiefly boosted by a more than 100% jump in product revenue to $45.27 million from $21.77 million last year.

Luc Seraphin, chief executive officer of Rambus said, "The record cash generation fuels our ongoing strategic investment in scaling the business, returning value to stockholders, and extending our product roadmap to enable continued profitable growth."